World experience in the field of money market formation

The article examines the role of the money market in the local currency in the financial market, analyzes the prerequisites for the formation of the money market and the factors necessary for its development. The study examines both the ambitious policy reforms and the specifics of money market formation in the implementation of financial sector development plans and the solution of specific tasks for the development of money markets, the development of financial markets in developing and bordering countries. The main idea of the study is that the formation of stable and money markets is closely linked with the formation of a monetary policy regime based on a flexible exchange rate and the desire to reach a low and stable level. In other words, reforms aimed only at the development of money market rate policy, should take certain steps mechanisms, using projected interest rates and a relatively flexible exchange to achieve low and stable inflation rates. At the same time, the implementation of such a regime is unlikely to be successful without efforts to create appropriate money markets. Key words: financial system, national economy, money market, money market parameters, interest rate, world experience